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Permanent url www.oecd.org/daf/investment/codes
The Code of Liberalisation of Capital Movements and the Code of Liberalisation of Current Invisible Operations constitute legally binding rules, stipulating progressive, non-discriminatory liberalisation of capital movements, the right of establishment and current invisible transactions (mostly services).
Implementation of the Codes, in particular by removal of restrictions on cross-border capital flows and trade in services and the concomitant lifting of country reservations against the Codes, involves "peer pressure" exercised through policy reviews and country examinations to encourage unilateral rather than negotiated liberalisation.
Capital Movements
For 50 years, the OECD Code of Liberalisation of Capital Movements has provided a balanced framework for capital account openness. This publication presents the full text of the Code, setting out the rights and obligations of adhering countries. It also shows how far each of the adhering countries is open to international capital movements. Download the full text (PDF, 1Mb)
Read more about how the Code promotes orderly capital flows
Current Invisible Operations
This publication presents the full text of the Code of Liberalisation of Current Invisible Operations and shows all changes in the positions of members as updated by Decisions of the OECD Council. It allows a comparison of the degree of liberalisation achieved by each country in regard to the international transactions covered by the Code, including services related to business, industry and foreign trade, transport, insurance and pensions, banking and finance, cinema and television, and travel and tourism. Download the full text (PDF, 1Kb)
Users' Guide
The purpose of the Users'Guide is to contribute to a better understanding of the principles and procedures of the OECD Codes. It also provides detailed explanations of the coverage of the Codes and may therefore serve as a manual for Code users.
See also
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